Iran-Armenia gas pipeline construction started Tuesday in Armenia’s Sunik province. Armenian PM Andranik Margaryan was present there.{BR} The pipeline will stretch throughout both Iran’s and Armenia’s territories. A 100-km-long pipe will be built along Tavriz-Norduz Iranian side’s border section at the expense of Iran. Armenia received 30 million dollars from Iran as credit...

On November 30 construction of “Iran-Armenia” gas pipe line will be launched. The delegation headed by Armenian PM Andranik Margaryan will depart for Syuniq District on November 29 to partake in it. {BR} Iran Republic delegation led by Energy Minister Habibollah Bitaraf will arrive in Syuniq to take part in the grand measures. After participation in the measures Energy Ministers of both...

Today Gevorg Tumanyan, head of CB’ Department on Cash Transactions, said at the press conference that beginning from December 1 new 10-dram kopecks will be put into circulation, which are smaller in sizes than the previous ones and are in a greater harmony with the rest of coins. {BR} He also said that a few days before they had found false kopecks of 100 and 200 nominal values. The circumstance...

Iran.ru Internet site reports a 42-km section of Iran-Armenia gas pipeline construction is to start soon in Armenian border province of Meghri. Under the agreement signed May13, 2004, in Yerevan, the pipeline section will be constructed at the expense of Iranian side.{BR} The whole 141-km pipeline (41 km throughout Armenia) construction is planned to be completed by the end of 2006. According...

Armenian Central Bank governor Tigran Sargssyan said favourable risk-lessening environment was created for the 2005 budget implementation.{BR} “As a rule, we are taking into account previous experience while gauging the possibility of a risk”, he said. “Deficit is one of the key aspects of a budget. We know from our experience that the planned expenses are never being made fully....

The budget figures show education expenses will exceed defence expenses.{BR} Together with increase in expenditure, budget deficit will grow. It will make 47,5 billion drams in 2005. The budget envisages that poverty won’t exceed 38% in 2005. Finance and economy minister Vardan Khachatryan promised that Armenia would complete its 15-year-long transition by the end of 2005.

Armenian PM, finance minister and Central Bank governor submitted the 2005 state budget for the parliament consideration on Monday.{BR} The very first day of the budget discussion showed that, according to anticipations, it would be approved unanimously, without debates and objections: as it is known, MPs from governing parties dominate National Assembly while the parliamentary opposition keeps boycotting the parliament sessions.

Foreign direct investments /FDI/ made about $ 230 million in Armenia in 2003. In the first half of 2004 they increased by 40%. But FDI declined twice in the world economy. The data have today been represented in Armenian Development Agency. {BR} Ministry of Trade and Economic Development of Armenia jointly with United Nations Development Programme (UNDP) launched the World Investment Report 2004. We...

On November 16-18 the first exhibition of Armenian goods and services on “Armenia Now EXPO-2005” will be held in Tbilisi, Georgia. {BR} The product of various branches of Armenia’s industry – foodstuffs, drinks, paints, lacquer etc will be introduced to the exposition. The aim of the exhibition of the Armenian goods and services is to expand the opportunities for export...

Some 100 enterprises will go on a one-day warning strike on Thursday. From 17:00 local time IP telephony will halt their operations protesting Armenian government’s recent decision to give ArmenTel Armenian-Greek company sweeping control over IP telephony services. The number of protesting enterprises is increasingly growing. A series of protest actions including rallies and marches are planned to be staged soon.

Trade and economy deputy minister Gagik Vardanyan presented Friday economy development statistics to journalists.{BR} His figures differ from those of national statistics service, as the ministry has conducted own study and composed own eleven-page report. The report was almost completely read up at the news conference. The report contains only figures showing economic growth in Armenia. The...

On Friday, Central Bank Governor Tigran Sargssyan told journalists Flash company was a new owner of chemical plant Nairit.{BR} The company became Nairit owner after making proper investments in Haykap, which holds 100% of the plant stocks. The head of the Central Bank said Flash has long been interested in the replacement of the bank in the legal field. Before this transaction Haykap bank was...

Armenian Justice Minister David Harutyunyan said at the conference yesterday in Government the following: “Tomorrow “ArmenTel” will be deprived of the right for rendering GSM services”. Minister’s statement is a fact now. {BR} ”Liberty” Radio Station informs, K-TeleCom, i.e, Karabakh-TeleCom, doing GSM services together with ”ArmenTel” beginning...

Armen Alaverdyan and Arthur Osikyan, Vices of the Head for State Tax Department of Armenia, were the guests of National Press Club.{BR} “Tax and customs collection will exceed the target of 258 milliard drams planned by budget”, Armen Alaverdyan said. According to him, only the tax inspectors collected about 100 milliard drams during the 10 past months. “Our system doesn’t...

”Under the decision on allowing the license for rendering services of mobile communication in Armenia, Executive Power approved the results of the tender represented by the tender commission set up by Government decision and recognized “K-TeleCom“ CJSC as the winner of the tender. Some instructions were set to Transport and Communication and Justice Ministers”. It’s the...

Heads of Armenian and Russian railway companies signed a cooperation agreement on Wednesday.{BR} The Russian company head Gennady Fadeyev says a joint railway company is to be established soon. Noting that Armenia is blockaded and pointing out cargos transportation problem to and from Armenia, Fadeyev said if the situation remains the same, more reliable ways for cargo transportation will be found....

Gennady Fadeyev, the head of Russian Russia Railways state-owned company, told journalists upon his arrival in Yerevan he had come in Armenia with a number of proposals. He pointed out the need of establishing Russian-Armenian joint company. He advised to “open doors especially before Georgia”.{BR} He said Armenia remained blockaded: the country had neither sea nor railway. The only road...

”Nairit” hasn’t run for 6 months. Factory was stopped in June for re-equipment and re-functioning a few days later but it didn’t. The employees of the factory anxious for the fate of it have today held a protest action and demanded for their salaries of 2 recent months and the debt frozen. {BR} ”Trade and Economic Development Minister Karen Chshmarityan announced from...

“ArmenTel” has given a $ 7 million bribe to a representative of Armenian Government in order that the monopoly issue should be delayed“, Arshak Sadoyan, Chair of “National Democratic Bloc” announced. Sadoyan said it wasn’t an allegation adding he had the confession of 2 “ArmenTel” representatives, taped and recorded. {BR} ”The future of our children...

Contractor for reconstruction works in Armenia’s electric power network will be named within coming two months, the head of Armenia’s power network Evgeni Gladunchik said at a news conference held Monday.{BR} In his words, an amount of $35 million given by Japan’s International Development Bank as credit is planned to be spent for the reconstruction. The bank signed a contract with...

Donna Dowsett- Coirolo, World Bank Regional Director has today informed in WB Yerevan Office that WB is going to allot a credit of $ 20 million to Armenia for implementation of “strategic program on poverty reduction”. {BR} On October 25 Karen Chshmarityan, Armenian Minister of Trade and Economic Development, announced in “Congress” Hotel that there isn’t a human poverty...

ArmProdExpo-2004 international exhibition was opened Thursday in Armenian government’s building. Sixty companies exposed their production: vine, cognac, natural juices, dairy products, cigarettes etc.{BR} President Kocharyan opened the exhibition. However, journalists were unable to come close to Kocharyan to know his opinion about the products displayed – the hall was too crowded. ...

Today Armenian-European Economic Policy and Legal Advise Centre /AEPLAC/ held presentation on “EU Experience in Working out Tax Legislation” in “Teqeyan” Centre. Hubert Hamajkers, honorary adviser of International Bureau of Fiscal Documents / IBFD/ introduced European Union joint tax sphere and year-long experience in Armenia. {BR} Armen Alaverdyan, Vice-Head of State Tax Service...

International organizations have developed a report-study for business development, which has been introduced in “Congress” Hotel today. Calman Mikey, Deputy of UNO Secretary General and head of UNDP’ Regional Bureau on Europe and CIS, Karen Chshmarityan, Armenian Trade and Economic Development Minister and Arsen Ghazaryan, Chairman for “Union of Businessmen and Manufacturers”...